Gold prices have slumped on Wednesday, reversing the gains from yesterday's session following reports of fresh military strikes in the Middle East that triggered concerns of renewed escalation. In addition, stronger private jobs data pushed the U.S. dollar value higher and weighed on gold prices.
Front Month Comex Gold for August month delivery has tumbled by $50.10 (or 1.11%) to $4,469.80 per troy ounce.
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Market Analysis
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.